Texas Foreclosure Activity Falls in October

Statewide filings down slightly  from September

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 9,845 Texas properties in  October, a slight decrease from September and 24 percent below the level  reported for October 2010, according to the  latest RealtyTrac® U.S. Foreclosure Market Report.

Texas had the 26th highest foreclosure  rate in the nation, reporting one in every 988 housing units with a foreclosure  filing in October.

California continued to lead the nation in total foreclosure  activity, reporting 55,312 properties with foreclosure filings for October. Second  ranked Florida reported 33,073 properties with foreclosure filings during the  month. Third place was Michigan, where 16,106 properties with foreclosure  filings were reported. Illinois had the fourth highest total, reporting 12,522 properties  with foreclosure filings while Arizona took fifth place, tallying 10,626 properties  with foreclosure filings.

The remaining states that make up the nation’s  top 10 in October include Georgia (10,010), Texas (9,845), Ohio (8,691), Nevada  (6,307) and Colorado (4,729). The top 10 accounted for 72 percent of the  nation’s total foreclosure activity for the month.

Hood County posts top foreclosure rate in the state  for October
  One in every 164 housing units in Hood County had  a foreclosure filing in October — 3.4 times the national average and six times the  state average — the highest foreclosure rate of all Texas counties for the month. Rockwall County  had the second highest rate of one in every 366 housing units with a foreclosure  filing during the month — 1.5 times the national average and 2.7 times the  state average. Johnson County had the third highest rate of one in every 433  housing units with a foreclosure filing during the month — 1.3 times the  national average and 2.3 times the the state average.

Harris County has state’s highest foreclosure total  in October
  Harris County tallied the highest level of foreclosure activity  in the state, reporting 2,176 properties with foreclosure filings for October. Dallas  County was second highest, reporting 1,108 properties with foreclosure filings.  Tarrant County was third, reporting 892 properties with foreclosure filings. Fourth  highest was Bexar County, recording 721 properties with foreclosure filings. Collin  County was fifth highest, tallying 344 properties with foreclosure filings for  the month.

State the nation’s seventh largest contributor to total  foreclosure activity in October
  Texas accounted for 4 percent of the 230,678  properties with foreclosure filings reported nationwide in October. Total U.S. activity  increased by more than 7 percent from September, but was down nearly 31 percent  from the level reported in October 2010. One in every 563 U.S. housing units received  a foreclosure filing during the month.

“The October foreclosure numbers continue to show strong signs that  foreclosure activity is coming out of the rain delay we’ve been in for the past  year as lenders corrected foreclosure paperwork and processing problems,” said  James Saccacio, chief executive officer of RealtyTrac. “However, recent state  court rulings and new state laws keep changing the rules of the foreclosure  game on the fly, creating more uncertainty in the housing market and  threatening to prolong the road to a robust real estate recovery.”

Texas Top Foreclosure Rates By County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

n/a

n/a

Texas

15

0

5,528

0

4,302

9,845

988

0.57

n/a

 

 

 

 

 

 

 

 

 

 

Hood

0

0

5

0

123

128

164

3.43

6.02

Rockwall

0

0

37

0

35

72

366

1.54

2.70

Johnson

0

0

62

0

65

127

433

1.30

2.28

Kaufman

0

0

42

0

28

70

460

1.23

2.15

Comal

1

0

45

0

57

103

460

1.22

2.15

 Texas Top Foreclosure Totals by County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sep 11

% Chg Oct 10

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

7.36

-30.55

Texas

15

0

5,528

0

4,302

9,845

988

-0.27

-24.32

 

 

 

 

 

 

 

 

 

 

Harris

0

0

1,340

0

836

2,176

737

-11.76

-25.99

Dallas

0

0

752

0

356

1,108

863

-21.53

-34.55

Tarrant

0

0

588

0

304

892

775

-8.42

-45.48

Bexar

0

0

465

0

256

721

858

-6.49

-27.68

Collin

0

0

175

0

169

344

847

-5.49

-52.29

 

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